City player to advise three UK start-ups over six-month period
Baker McKenzie has joined a growing number of City outfits to lend its legal expertise to fledgling fintech companies through the launch of a new support fund worth £100,000.
The outfit said the six-figure fund will provide structured legal support to three “up and coming” fintech companies over the course of a six-month period, and is open to all fintech companies based in the UK.
The move follows similar fintech funding initiatives launched by the likes of Addleshaw Goddard, which set aside up to £500,000 in free legal support as part of its ‘AG Elevate scheme’, and Simmons & Simmons, which offered up to £100,000 to help “exciting” new businesses operating in the fintech space.
Elsewhere, magic circle player Slaughter and May provided up to £30,000 in free legal support to five start-ups as part of its ‘Fintech Fast Forward’ programme, while Hogan Lovells launched a free mentoring programme to support fintech entrepreneurs.
Bakers’ new fund will also include a structured legal plan to establish a roadmap and prioritise spend, a start-up pack of best practice legal templates and checklists, and complimentary access to the firm’s experienced business professionals.
Further, participants will have access to the firm’s relevant thought leadership, events and networks as well as discounted and alternative fee arrangements to help their business grow beyond the first months.
Commenting on the new fund, Mark Simpson, Baker McKenzie fintech regulatory partner, said: “I get no greater pleasure than seeing our strategic legal advice really help businesses grow. We hope that this fund will help those successful applicants to flourish and avoid unexpected pitfalls.”
Successful applicants will be chosen by a judging panel of industry experts including fintech leaders from Revolut, Checkout, Anthemis and Salesforce and invited to present their business at a pitch event in July.
